The Latest: Walmart to pay $282M in corruption probes

ALEXANDRIA, Va. (AP) — The Latest on Walmart’s multimillion settlement with federal authorities investigating the allegations of the company’s corrupt overseas practices (all times local):

3:10 p.m.

The Securities and Exchange Commission says it has reached a $144 million settlement with Walmart for failing to stem corruption in its overseas units in Brazil, China, India, and Mexico.

That settlement is in addition to a $138 million criminal payment finalized Thursday in federal court in Alexandria for paying more than $500,000 to a Brazilian intermediary nicknamed the “sorceress” for her ability to expedite construction permits.

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Walmart said Thursday the deals constitute a global settlement of all federal investigations into violations of the Foreign Corrupt Practices Act. The company says it now has strong anti-corruption programs in place. Walmart’s overseas practices have been under investigation since at least 2012.

The SEC said Walmart allowed its foreign subsidiaries to employ third-party intermediaries who made payments to foreign government officials.

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11:55 a.m.

Walmart has agreed to pay a $138 million criminal penalty to settle a Justice Department claim that it and a Brazilian subsidiary violated the Foreign Corrupt Practices Act.

The settlement was reached Thursday in federal court in Alexandria, Virginia.

Court documents state that the Brazilian subsidiary made $527,000 in payments to an intermediary known as the “sorceress” for her ability to expedite construction permits.

Walmart did not immediately respond to a call and emails seeking comment.

According to the Securities and Exchange Commission, companies including Halliburton, Anheuser-Busch InBev, JPMorgan and Panasonic Corp. have all reached multimillion settlements under the Foreign Corrupt Practices Act since 2016.

Walmart reported $3.84 billion in profit in its most recent quarterly earnings.

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